Wall Street brokerages expect that Pier 1 Imports, Inc. (NYSE:PIR) will report $466.33 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Pier 1 Imports’ earnings. The lowest sales estimate is $463.06 million and the highest is $470.10 million. Pier 1 Imports reported sales of $475.90 million during the same quarter last year, which indicates a negative year over year growth rate of 2%. The business is expected to announce its next earnings report on Wednesday, December 13th.

On average, analysts expect that Pier 1 Imports will report full year sales of $466.33 million for the current fiscal year, with estimates ranging from $1.84 billion to $1.85 billion. For the next financial year, analysts forecast that the business will report sales of $1.82 billion per share, with estimates ranging from $1.80 billion to $1.84 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Pier 1 Imports.

Pier 1 Imports (NYSE:PIR) last issued its earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $407.61 million during the quarter, compared to the consensus estimate of $406.32 million. Pier 1 Imports had a return on equity of 13.82% and a net margin of 1.61%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) earnings per share.

PIR has been the topic of a number of research analyst reports. BidaskClub upgraded Pier 1 Imports from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Loop Capital decreased their target price on Pier 1 Imports from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. ValuEngine downgraded Pier 1 Imports from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Jefferies Group LLC restated a “hold” rating and issued a $5.90 target price on shares of Pier 1 Imports in a research note on Sunday, September 3rd. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Pier 1 Imports has a consensus rating of “Hold” and a consensus price target of $5.01.

Institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP increased its position in shares of Pier 1 Imports by 114.3% during the 3rd quarter. GSA Capital Partners LLP now owns 405,720 shares of the specialty retailer’s stock valued at $1,700,000 after purchasing an additional 216,420 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Pier 1 Imports by 5.6% during the third quarter. California Public Employees Retirement System now owns 640,729 shares of the specialty retailer’s stock valued at $2,685,000 after buying an additional 33,929 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Pier 1 Imports by 263.3% during the third quarter. Allianz Asset Management GmbH now owns 440,136 shares of the specialty retailer’s stock valued at $1,844,000 after buying an additional 318,987 shares during the period. Stifel Financial Corp boosted its position in shares of Pier 1 Imports by 35.2% during the third quarter. Stifel Financial Corp now owns 140,325 shares of the specialty retailer’s stock valued at $582,000 after purchasing an additional 36,525 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Pier 1 Imports by 6.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,439,380 shares of the specialty retailer’s stock valued at $6,032,000 after purchasing an additional 82,983 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

Shares of Pier 1 Imports (NYSE PIR) opened at $4.45 on Wednesday. Pier 1 Imports has a twelve month low of $3.96 and a twelve month high of $9.67. The company has a market capitalization of $373.70, a P/E ratio of 9.49, a P/E/G ratio of -10.49 and a beta of 1.79. The company has a quick ratio of 0.43, a current ratio of 2.23 and a debt-to-equity ratio of 0.75.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, October 17th. This represents a $0.28 annualized dividend and a yield of 6.29%. Pier 1 Imports’s dividend payout ratio is 77.78%.

WARNING: This story was published by Watch List News and is owned by of Watch List News. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://www.watchlistnews.com/brokerages-expect-pier-1-imports-inc-pir-will-post-quarterly-sales-of-466-33-million/1719408.html.

Pier 1 Imports Company Profile

Pier 1 Imports, Inc is an importer of home decor and furniture. The Company’s operations consist of retail stores and an e-commerce Website conducting business under the name Pier 1 Imports, which sells a range of decorative accessories, furniture, candles, housewares, gifts and seasonal products. The Company’s categories of merchandise include decorative accessories and furniture.

Get a free copy of the Zacks research report on Pier 1 Imports (PIR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Pier 1 Imports (NYSE:PIR)

Receive News & Ratings for Pier 1 Imports Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pier 1 Imports Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.